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ExxonMobil misses second quarter profit estimates

By Staff Editor Sun, August 2 2026, 2:05 AM GMT-4

ExxonMobil, which has major operations in Guyana’s Stabroek Block, missed Wall Street estimates for second-quarter profit on Friday, even as high oil prices and improved refining margins sparked by the Iran war led to its biggest quarterly profit in four years.

Reuters reported that adjusted earnings for the ‌largest U.S. oil major by market capitalization rose 67% from the first quarter to US$14.7 billion, or US$3.52 per share, but were below the consensus analyst estimates compiled by LSEG of US$3.60 per share.

However, the quarterly profit more than doubled compared with last year, Reuters said.

Exxon Chief Financial Officer Neil Hansen said the company’s underlying results were strong and attributed the miss to “extreme swings” in commodity prices and margins that were difficult to model.

Fellow U.S. oil major Chevron which is also a participant in Guyana’s Stabroek Block beat analyst estimates for the second quarter, as did its European counterpart Shell.

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